Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[seljo]

It's a horrible time to be hodling LTC.

Just bought some... just in case...

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[JimboToronto]

Who cares about the silk road auction. It is only 30,000btc or a measy 0.22% of all bitcoins. a 0.22% supply increase should not affect the price in a significant way. Especially since it's being done privately.

Bingo! The voice of reason.

I remember saying the same thing last summer when SatoshiDice was sold and people thought the coins paid to existing shareholders would flood the market. Of course the price fell steeply and almost immediately bounced most of the way back but didn't fully recover for over a week.

Some people never learn.

Sigh.

[fonzie]

I don´t want to worry the bulls, but i can clearly see us going to 650-700$ by Monday. I´m all in and leveraged long since 560$.  

Is it really profitable to hold leveraged positions like that when the market is moving so slowly, with the ridiculous interest rates on bitfinex?  I would have sold the leveraged portion of the position at $610 and then re-taken it whenever a breakout is confirmed. How is that interest treating you?

Interst is @ 0.2, which is kinda fair for now. Otherwise i treated my positions as you said, i closed my long @ 608$ yesterday and reopened it about 4 hours ago@599 when i saw that the chinese were going up(+2 or 3         200BTCpump walls on Finex suddenly appeared). I´m pretty confident that wave 5 is coming , starting from 340$ and  think that we will see a growth to about 730-780$ in the next 2 weeks. It´s hard to tell when those pumps are coming like they did all of a sudden in wave 3 with the help of single huge market buys so i won´t close my longs from now on and rather pay the interest than to miss the pumps.

[oda.krell]

Snip

That's what he said about you. I can't tell the difference.

Please don't quote the 'real' Jorge either. Most people here consider him a troll.

Yeah... that's where the "don't quote trolls" rule kinda falls apart. You might not like jorge's posts, and I'd agree that he's stubborn as hell, but if he's a troll, he's probably the most polite and educated one you'll find in here. So I respond to him. So, I'm afraid, you will occasionally see a post of his as a quote in one of my posts.

I see your responses to his points, which are often ignored. Why do you bother? I honestly don't understand.

I didn't consider him a troll at first, but after six months, unfortunately I just can't take it anymore. Fuck politeness. Why does someone invest so much time into something they have no belief in? Is his life really that sad?

There's the occasional insightful remark between all the selective arguing and biased perception.

Anyway, we're all wasting our time in here, so I don't hold it again the prof that he wastes his time by playing anthropologist in here.

[JimboToronto]

I don´t want to worry the bulls, but i can clearly see us going to 650-700$ by Monday. I´m all in and leveraged long since 560$.  

Why would that worry any bulls? Because you're well-established as a troll and they might find the idea of you agreeing with them to be unsettling?

[TheJuice]

I don´t want to worry the bulls, but i can clearly see us going to 650-700$ by Monday. I´m all in and leveraged long since 560$.  

Is it really profitable to hold leveraged positions like that when the market is moving so slowly, with the ridiculous interest rates on bitfinex?  I would have sold the leveraged portion of the position at $610 and then re-taken it whenever a breakout is confirmed. How is that interest treating you?

That's why I love offering leverage on finex. I sold a few Gs on finex and have been loaning out -my strategy consistently makes 2-3%/week on finex over the past few months. It's a great hedge against a sell off and unless btc triples in a year I am ahead!

(of course I still have plenty of BTC, so I'm hoping for up)

[MatTheCat]

It´s hard to tell when those pumps are coming like they did all of a sudden in wave 3 with the help of single huge market buys so i won´t close my longs from now on and rather pay the interest than to miss the pumps.

That's the Bitcoin market. Hanging on the end of a whale's whim.

[CoinHamster]

Looks like there will be soon a third failed attempt to go over $610 on Bitstamp. On the other hand, $540-560 on the downside should hold. Another couple weeks of a narrowing sideways trading?

the firedragon is still marching steady to lucky heaven, bestowing his adherents beautiful dreams and an happy bitcoiny morning


 

 

[wachtwoord]

Litecoin is being dumped hard for bitcoin at the moment.

NXT is falling even more, not to talk about blackcoin and doge seems to be dying. Does not look very bullish, more like  run to the safety of  bitcoin more associated with a bear market?

Associated with the beginning of a rally.

[fonzie]

It´s hard to tell when those pumps are coming like they did all of a sudden in wave 3 with the help of single huge market buys so i won´t close my longs from now on and rather pay the interest than to miss the pumps.

That's the Bitcoin market. Hanging on the end of a whale's whim.

[JorgeStolfi]

I see your responses to his points, which are often ignored.

If I do not respond, it means that I agree with the response, or that I disagree but do not see the point of re-replying.  Most of the "arguments" here are merely statements of probability -- one thinks X is "quite likely", the other thinks it is "quite unlikely", and neither can convince the other to change his/her outlook.

Why does someone invest so much time into something they have no belief in? Is his life really that sad?

To know my real motives you may have to consult a psychiatrist.  If a good excuse suffices, consider this:

http://www.coindesk.com/argentinian-bitcoin-merchant-processor-bitpagos-raises-600k/
"BitPagos says the $600k in funding will help it expand beyond Argentina to more Latin American markets."

I believe it is part of my job to warn my compatriots against computer-based scams and bad investments.

BitPagos itself may turn out to be just another harmless service like BitPay, a way to skim fees from bitcoin owners who need a pretext to unload their bitcoins without feeling like they are betraying the cause.  However, the reason why SecondMarket and Pantera are funding BitPagos is clearly to make bitcoin itself look like a great investment, so that lots of Latin Americans will rush to buy shares of their bitcoin-denominated investment funds.

Need I remind you that those funds will make money even if the bitcoin price crashes after the "LA bubble" that they are counting on, and all their investors lose money? In fact, those funds can make a LOT more money from the collapse of such a bubble than from a gradually rising BTC price.  (I haven't checked recently, but a month or so ago, one could compute that the SMBIT investors, as a whole, had lost money.)

Unfortunately, a prof with a keyboard can do very little against the advertising budgets of such big sharks.

EDIT: grammar

[KFR]

...

To know my real motives you may have to consult a psychiatrist.  If a good excuse suffices, consider this:

http://www.coindesk.com/argentinian-bitcoin-merchant-processor-bitpagos-raises-600k/
"BitPagos says the $600k in funding will help it expand beyond Argentina to more Latin American markets."

I believe it is part of my job to warn my compatriots against computer-based scams and bad investments.

"Bad investments" in your own entirely subjective opinion, ignoring any argument to the contrary - by your own admission.  Hubris, prof.  Hubris.

Were you abused by a computer during your childhood by any chance?

You might want to book an appointment.

[Ivanhoe]

Litecoin is being dumped hard for bitcoin at the moment.

NXT is falling even more, not to talk about blackcoin and doge seems to be dying. Does not look very bullish, more like  run to the safety of  bitcoin more associated with a bear market?

Associated with the beginning of a rally.

Yup, it's not far away anymore.

[JorgeStolfi]

"Bad investments" in your own entirely subjective opinion, ignoring any argument to the contrary - by your own admission.

Ignoring arguments that fail to convince me, of course.  I have no power to force anyone to invest or not, all I can do is present my arguments, and people will decide by themselves.

[KFR]

"Bad investments" in your own entirely subjective opinion, ignoring any argument to the contrary - by your own admission.

Ignoring arguments that fail to convince me, of course.  I have no power to force anyone to invest or not, all I can do is present my arguments, and people will decide by themselves.

But don't you get annoyed when you present perfectly decent arguments and they either completely ignore them or, worse yet, start calling you a religious cultist?

[ChartBuddy]

Explanation

[JorgeStolfi]

Ignoring arguments that fail to convince me, of course.  I have no power to force anyone to invest or not, all I can do is present my arguments, and people will decide by themselves.

But don't you get annoyed when you present perfectly decent arguments and they either completely ignore them or, worse yet, start calling you a religious cultist?

I was not referring to the people in this thread, but to the general public.  You guys here generally know enough about bitcoin to choose for yourselves.  But when I read something that I believe is wrong, I feel the need to reply.  Is that serious, doctor?

[BBmodBB]

Explanation

/\BITCOIN ATM AT LUXORRRRR CASINO!!!!!!!? WOW HUGE NEWS!!!!!!!!

[KFR]

Ignoring arguments that fail to convince me, of course.  I have no power to force anyone to invest or not, all I can do is present my arguments, and people will decide by themselves.

But don't you get annoyed when you present perfectly decent arguments and they either completely ignore them or, worse yet, start calling you a religious cultist?

I was not referring to the people in this thread, but to the general public.  You guys here generally know enough about bitcoin to choose for yourselves.  But when I read something that I believe is wrong, I feel the need to reply.  Is that serious, doctor?

Could be.  But I actually think you're making progress.  You've developed a new justification model and are beginning to understand that bitcoiners are people too.  This a massive step forward.  But while you continue to devote so much of your time into defending the world from Bitcoin and focussing so heavily on the current speculator minority, you still have a very, very long way to go.  It's certainly not healthy. 

[JorgeStolfi]

Hubris, prof.  Hubris.

I don't recal if I mentioned it here, but a few years ago Fiat Brasil switched to using cast iron instead of steel for the rear wheel hubs of some model.  The hubs would fatigue-crack after some time, more likely when driving at high speed on highways.  Several fatal accidents happened before the government forced Fiat to do a recall and replace those hubs.

Once I met at lunch the prof from our Mechanical Engineering dept who wrote the report that pointed out the problem and eventually convinced the government to order the recall.  It was not a easy struggle to overcome the Fiat lobbyists and lawyers, and I don't think that he got more than his expenses refunded.

That prof saved lives, perhaps hundreds of them. I will feel good if I can save the economies of a few people from the types of Mark Karpelès, Daniel Brewster, and Barry Silbert.